Create2 opcode in Ethereum equivalent in Algorand

Welcome to Algorand!

Algorand and Ethereum manage smart contracts in a quite different way.

What is your use case of the create2 opcode?

If the goal is to create a multisig account or an “end-user” account that is controlled by a complex smart contract, you most likely do not want to use an “application” or “smart contract” for that purpose on Algorand. You either want to directly use “multisig” accounts or logicsig/smart signature contract accounts.

See Send a multisig inner transaction - #6 by fabrice

See the difference between smart contract/applications and smart signatures/logicsig there: Introduction - Algorand Developer Portal
Usually, you want to use smart contracts, but in the specific case mentioned above, smart signatures are more appropriate. Note that smart contracts on Algorand (as opposed to smart signatures) cannot choose their associated application ID (which is the very loose equivalent of the smart contract address on Ethereum).

If the goal is to put in place a factory pattern:
While an Algorand smart contract can create an application using the factory pattern, in many cases, this is not a pattern you want to use on Algorand. See in particular More detail about new AVM contract to contract - #2 by fabrice